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Does anyone knows the status of this developement? Has anyone analyzed the investment potential/risk for this "hotel condo" real estate? Can anyone tell me if this is a possible "good" investment or not?
1. that project finally got the go ahead a few weeks ago but still faces quite a bit of resistance from the local community.
2. i've looked at the project and i live in the area - just hang out there during rush hour and tell me if you think this is a good hotel locale. just imagine being a guest and taking a taxi to the hotel -- your best chance would be to be dropped off a few blocks away and walk the rest of the way with bags in two.
3.i wouldnt really look at a condo-hotel unit as an investment. sure you get a piece of the proceeds from the rental pool but the math does not typically work - you really have to look at it as a 2nd home that you'll have to carry.
Thnaks for the input. Can you tell me pro/con of purchasing this "hotel condo" in particular?
Is the local community of SOHO goint to allow this project to be approved?
Check out GVSHP's page for all the news. Great photos of the protest too...
What's the fuss? I live over in "actual" Soho. If Trump wants to build a character-less tower over in the UPS-hood (as another poster has called the industrial area between 6th avenue and the Hudson), let him! Soho is all landmarked.
The only worthwhile thing in that neighbourhood is the Ear Inn. The city should zone that whole area residential, put Landmark orders on ALL the NICE buildings (King street; some of Greenwich street), and stop artificially keeping UPS-hood as a fake light industry neighbourhood. Turn the factories into lofts. I really don't see why not. Good for everyone. Who needs a block-sized Manhattan mini-storage there anyway?
...And put that damn west side highway underground too so we have access to a pretty riverside park. It's the idiot preservationists who stopped that from happening in the first place.
The issue is not what Trump wants to do, but what the zoning allows.
Does anyone think they will enforce the condo-hotel restrictions?
whats the latest on this property? does anyone know that percentage sold?
Only 20 of the 391 units have closed since that process began at the end of May.
development might get auctioned
Everything Trump touches turns to gold.
BY ALBERT AMATEAU | A partner in the 46-story Trump Soho, the condo hotel that opened in April 2010 in the Hudson Square district over the objections of neighborhood preservation advocates, last week put the building on the auction block.
Alex Sapir, the partner of the Bayrock Group in building the hotel managed by Donald Trump’s family, said last week that the unsold condo units and the public areas of the hotel would be auctioned in March or April.
Sapir told the business press on Jan. 18 that the developers had received unsolicited offers from unnamed buyers.
“They were numbers that we would be very happy selling at,” Sapir told Bloomberg News and Crain’s New York Business.
Any word on the auction? Entire building, I assume?